When a trader expects a large, illiquid order, which approach best estimates price impact?

When a trader expects a large, illiquid order, which approach best estimates price impact?

• A. Execute immediately at best available price across a single venue.
• B. Break the order into smaller slices and use hidden liquidity only.
• C. Break the order into smaller slices and use liquidity measures across venues.
• D. Cancel the order.

Answer: (C)